With the new Sandy Bridge line of processors approaching, Intel Corp. on Thursday reduced the price of its Core i7-950 and Xeon W3550 CPUs by almost 50%.

The Core i7-950 CPU are currently available for Intel's OEM customers for $294, which is 48% cheaper than the July pricing. The i7-950 (8M L3 cache, 4 Cores, 8 Threads, 3.06 GHz 4.80 GT/sec Intel QPI 45nm)